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Cryptocurrency investing has been rising in popularity over the past ten years. However, even though more and more people are investing in crypto, many people are confused about how taxation works for cryptocurrency. In this video, tax expert Karlton Dennis explains everything that you need to know about cryptocurrency taxes.

This video provides a cryptocurrency tax guide for beginners. It explains whether or not cryptos are taxed, how capital gains taxes work for cryptos, what your crypto tax obligations are if you hold your coins long-term and do not sell, and more.

The video also covers how taxes work for cryptocurrency staking, which is another form of generating profit with cryptocurrency in addition to simply holding the underlying assets. Further, the video explains how crypto taxes work if you trade one crypto for another such as Bitcoin for Ethereum or Ethereum for Cardano.

CHAPTERS:
0:00 Intro
0:32 Are Cryptocurrencies Taxed?
1:15 HODLers: What if You Don’t Sell Your Crypto?
2:18 How Much Will I Owe in Capital Gains Taxes?
5:37 Trading One Crypto for Another
7:13 Staking Rewards
9:25 Can the IRS Track Crypto Activity?
10:33 Outro

*Disclaimer: I am not a financial advisor nor am I an attorney. This information is for entertainment purposes only. It is highly recommended that you speak with a tax professional or tax attorney before performing any of the strategies mentioned in this video. Thank you.

#crypto #cryptotaxes #ethereum #cryptocapitalgains